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Dover Motorsports Inc. Message Board

  • slim_niceguy slim_niceguy Oct 6, 2009 9:55 PM Flag

    Derivative suit would probably work

    A derivative suit citing breach of fiduciary duty if coupled with an offer by a raider like Icahn or one of his ilk would put an end to this management team. I've seen dual class companies fall after an offer..courts don't let them get away from their fiduciary duties..there are lots of precedents. The financial markets are relaxing and there would be no problem coming up with a $4 offer with the intent of forcing management to make a higher offer to buy the company in or some alternative. Cibelli and other investors made Ronald Perleman drop a deal for his MFW that he wanted to rape by linking it up with his debt laden Panavision holding. The courts found for the MFW stockholders. That is what he is talking about when he said in his most recent letter to shareholders about pursuing a new avenue with regard to DVD. I have been a LP in Marathon since it started- I was a charter member.

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    • You're right about the suit and what it might accomplish. The problem I see is that the potential spoils for such a raider are pretty small potatoes. I don't think Carl Icahn would get out of bed for $100 million, and that exceeds the entire market cap here. He just can't make enough money to bother.

      As an aside, Michele's silence is deafening. So much so that I wonder if there's some sort of pre-nup or other agreement that would somehow survive John Rollins' death? Does Tippie have compromising photos of her when she was a young Gold-digger in the 70s?

      Her continued lack of interest can't be due to her playing around in Jamaica all the time, can it?


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